Singapore prepared to tackle challenges in fast-shifting global landscape: SM Lee

SINGAPORE – The world is in flux, with rapid changes brought about by technology and policy shifts, but Singapore has prepared for this.

Speaking on Feb 22 at an education award ceremony in Teck Ghee, Senior Minister Lee Hsien Loong said the Government has plans for the coming year and the future, but he added that people need to rally behind it.

He said some of the plans were laid out in Prime Minister Lawrence Wong’s

Budget speech on Feb 18

. They include more immediate needs like

support for households to tackle cost pressures

, and longer-term plans such as strengthening growth engines and investments in people and infrastructure.

SM Lee, who is also an MP for Ang Mo Kio GRC, was speaking at the Teck Ghee Citizens’ Consultative Committee – Community Development Council Education Merit Award presentation ceremony at Townsville Primary School.

SM Lee said the international environment is in flux. He noted that the new US administration has taken a fundamentally different view of the world and made dramatic policy changes, which will have major consequences everywhere.

The US has announced

a dramatically different approach towards Europe’s security

and wants the European countries to shoulder their own defence burden instead of relying heavily on the US. This is forcing governments in Europe to rethink long-time and fundamental assumptions, said SM Lee.

In trade policy, the US has threatened to

impose broad tariffs on its trading partners

. If it follows through, this will likely push up inflation not just in the US, but in other countries too, SM Lee said, adding that the US has also not crystallised its approach to China yet.

“We cannot tell exactly how things will play out and how it will affect Singapore. But we can be quite certain that Singapore is going to be facing quite a different environment ahead,” he said. “But we do not have to worry. We do not have to fear. We just have to be prepared.”

He added that the Government has been preparing for situations like these for very long, and has good plans that should enable Singapore to move forward in 2025 and for many years beyond.

They include a

fresh tranche of $800 in CDC vouchers

, and up to $760 in U-Save rebates for each household to tackle cost pressures.

Families with children will get $500 for each child in LifeSG credits, with more support for those with more than two children.

There is also additional support for lower-income families.

Beyond alleviating cost burdens, the Government is strengthening growth engines by investing in frontier areas like artificial intelligence and quantum computing, and in infrastructure including Tuas Megaport and Changi Terminal 5.

It is securing sources of clean energy, like low-carbon electricity from the region, and exploring generating nuclear power.

The Government is also investing in upgrading its people and equipping workers throughout life. Measures include the SkillsFuture Level-Up Programme, which provides $4,000 of SkillsFuture credit for workers above 40 to undertake full-time courses.

The programme also provides a training allowance.

Workers will be paid as much as half of their last-drawn salary (up to $3,000) to help cover their living expenses as they focus on upgrading themselves.

Those undergoing part-time training will be supported with a new monthly training allowance.

To promote sustainability and a greener Singapore, SM Lee noted that the amount of

climate vouchers

has been raised for Singaporean households to buy more efficient appliances.

Another $5 billion has been set aside in 2025 to fund coastal and flood protection schemes for a more climate-resilient Singapore.

The Budget reflects the Government’s commitment to nurture a more caring and inclusive society, SM Lee said.

He added that while Budget support is weighted towards the lower income, families living in private properties have not been left out.

Private property residents receive CDC vouchers for all Singaporean households, and will be eligible for climate vouchers and the

Enhancement for Active Seniors programme

, which were previously available only to Housing Board flat dwellers.

Every Singaporean adult will also receive

SG60 vouchers

so that everyone can share the benefits of the nation’s progress as it marks its diamond jubilee.

“Despite the challenges, the Government’s plans mean that we can move forward with confidence,” SM Lee said.

“But we cannot do this alone as a government. We need Singaporeans to do your part too – to stay one united people, to rally behind a capable government which can govern Singapore well and lead Singapore well... to make Singapore continue to shine bright for many years to come.”

Civil servant Neo Wee Cheong, 42, was at the event with his three children.

His son Branson, 13, is a Secondary 1 student at Anderson Secondary School and his daughter Nicole, 11, is a Primary 5 pupil at Teck Ghee Primary School.

Both received the education award for the third time.

They were among more than 350 students in Teck Ghee who received awards for their outstanding academic performance.  

The two have a brother, nine-year-old Brayden, who is a Primary 3 pupil at Teck Ghee Primary School.

“I am happy with this year’s Budget, especially for the help given to larger families like mine to alleviate the cost of living,” Mr Neo said.

“The SG60 vouchers are also a surprise bonus.”

Mr Neo’s wife – Ms Agnes Cheng, a 42-year-old homemaker – said: “I’m very proud of the children, especially as they do not receive tuition or attend enrichment classes.”